Floral Separator

Netflix's Crackdown Boosts Subscribers


After implementing its password-sharing crackdown, Netflix gained 5.8 million new paying subscribers, surpassing analyst expectations.

Users' response to being locked out of shared accounts was low, as revealed in the company's 15-page quarterly report.

In the United States, Netflix discontinued its Basic plan, offering new users the $6.99 Standard with Ads, $15.49 Standard, or $19.99 Premium programs.

The company clarified that it is not currently relying on ads for revenue, though it is developing its ad business in collaboration with Nielsen and EDO.

Netflix plans to address the account-sharing issue in almost all its remaining countries.

The streaming platform's latest quarterly report showed increased revenue, profit, and number of paying subscribers, beating all expectations.